CHARLESTON, S.C. - Bank of South Carolina Corporation (OTCQX:BKSC), a financial holding company, has announced a quarterly cash dividend of $0.17 per share. The dividend is payable on April 30, 2024, to shareholders of record as of April 9, 2024. This marks the 138th consecutive quarterly cash dividend distributed to the bank's shareholders.
The Bank of South Carolina, a state-chartered banking institution, operates through several branches located in Charleston, North Charleston, Summerville, Mt. Pleasant, James Island, and the West Ashley community. Since its establishment in 1987, the bank has been providing a range of financial services to its customers.
The financial institution has been consistent in returning value to its shareholders through regular dividend payments. The announcement underscores the bank's commitment to its dividend policy, which is an important aspect for income-focused investors.
This dividend declaration is based on a press release statement from the Bank of South Carolina Corporation.
InvestingPro Insights
The Bank of South Carolina Corporation (OTCQX:BKSC) has recently declared a quarterly cash dividend, reinforcing its long-standing tradition of rewarding shareholders. This commitment is further exemplified by the company's track record of maintaining dividend payments for an impressive 36 consecutive years, a testament to its financial resilience and prudent management. With a market capitalization of $69.9 million and a solid dividend yield of 5.4%, the bank stands out as a potentially attractive option for income-focused investors.
Looking at the company's financial metrics, the Bank of South Carolina Corporation exhibits a Price/Earnings (P/E) ratio of 11.78, which adjusts slightly to 11.69 when considering the last twelve months as of Q3 2023. This indicates a valuation that may be considered reasonable in the context of the banking industry. Moreover, the company's revenue growth has remained stable, with a slight increase of 0.05% over the last twelve months as of Q3 2023. Despite a quarterly revenue decline of -8.04% in Q1 2023, the bank has managed to remain profitable during this period.
An InvestingPro Tip worth noting is that the bank suffers from weak gross profit margins. This could be an area for potential improvement and a point of analysis for investors seeking comprehensive insight into the company's financial health. On the flip side, the bank has been profitable over the last twelve months, which aligns with its ability to sustain dividend payments and could be a reassuring factor for those considering an investment.
For those interested in a deeper dive into the Bank of South Carolina Corporation's financials and performance, InvestingPro offers additional insights and metrics. There are more InvestingPro Tips available that could help investors make informed decisions. To explore these tips and enhance your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/BKSC.
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